Mason Lawn Equipment uses a perpetual inventory system.Journalize the following sales transactions for this company.Explanations are not required.
$$\begin{array} { | l | l | }
\hline \text { May } 18 & \begin{array} { l }
\text { Sold } \$ 26,000 \text { of merchandise on account, credit terms are } 1 / 10 , \mathrm { n } / 30 , \mathrm { FOB } \
\text { destination. Cost of goods is } \$ 15,600 .
\end{array} \
\hline \text { May 22 } & \text { Mason negotiated a } \$ 600 \text { allowance on the goods sold on May } 18 . \
\hline \text { May } 24 & \text { Mason paid freight of } \$ 450 . \
\hline \text { May 26 } & \begin{array} { l }
\text { Mason receives payment for the customer for the amount due from the } \
\text { May 18 sale. }
\end{array} \
\hline
\end{array}$$

Question

Mason Lawn Equipment uses a perpetual inventory system.Journalize the following sales transactions for this company.Explanations are not required.
 $$\begin{array} { | l | l | } 
\hline \text { May } 18 & \begin{array} { l } 
\text { Sold } \$ 26,000 \text { of merchandise on account, credit terms are } 1 / 10 , \mathrm { n } / 30 , \mathrm { FOB } \
\text { destination. Cost of goods is } \$ 15,600 .
\end{array} \
\hline \text { May 22 } & \text { Mason negotiated a } \$ 600 \text { allowance on the goods sold on May } 18 . \
\hline \text { May } 24 & \text { Mason paid freight of } \$ 450 . \
\hline \text { May 26 } & \begin{array} { l } 
\text { Mason receives payment for the customer for the amount due from the } \
\text { May 18 sale. }
\end{array} \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Mason Lawn Equipment uses a perpetual inventory system.Journalize the following sales transactions for this company.Explanations are not required.
 $$\begin{array} { | l | l | } 
\hline \text { May } 18 & \begin{array} { l } 
\text { Sold } \$ 26,000 \text { of merchandise on account, credit terms are } 1 / 10 , \mathrm { n } / 30 , \mathrm { FOB } \
\text { destination. Cost of goods is } \$ 15,600 .
\end{array} \
\hline \text { May 22 } & \text { Mason negotiated a } \$ 600 \text { allowance on the goods sold on May } 18 . \
\hline \text { May } 24 & \text { Mason paid freight of } \$ 450 . \
\hline \text { May 26 } & \begin{array} { l } 
\text { Mason receives payment for the customer for the amount due from the } \
\text { May 18 sale. }
\end{array} \
\hline
\end{array}$$

Mason Lawn Equipment Uses a Perpetual Inventory System